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Taking A Huge Risk with My Ebay Reselling Business.
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- Опубліковано 8 сер 2024
- Instagram: @flippy_mcflipperson
/ flippy_mcflipperson
Business inquiries - Email Me - flippymcflipperson1@gmail.com
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Man, I've been doing really well with the items you gave me. Makes me think all you needed to do was recomp and re-price those items. I truly do thank you. Still owe you lunch. Let's make it happen.
I kind of figured they just need some tweaking but it felt good to purge. I also got a lunch with Soda City Flips out of it, and you can't buy that on eBay!
You could change the paint color and lighting to something that says "work space" to you.
Great idea! Lighting is at the top of my list for sure! Thank you
We are doing the same thing. Time to clear out the old inventory and creating space.
Such a satisfying feeling!
I'm in the same boat on a smaller scale and doing the same thing. Also invest in a storage shed. It will pay for itself over time. Made of wood in non flooding area.
Unfortunately we live in a neighborhood with very tiny yards so I don't have the room for a shed. That's the dream though😁
Thank you for sharing more great advice and insight. I appreciate all the education I can get! 😊
I appreciate you watching!😁
Had to account for this when we relocated. I enjoy having the inventory close.
It's definitely been convenient
Another option..can you finance a shed with a payment per month around the $250 mark? That way you have a larger supply and you put equity in your home?? You were paying that to the storage company anyway.....
Having a shed is my dream for sure. Unfortunately we live in a neighborhood with very small yards so we don't have the room.
First of all, you are not an idiot!! Stop it!!! Your Video was Excellente!! You really thought it out and explained it wisely. You wouldn't of known what you were doing if you hadn't on this first journey!! I'm assuming you will be selling way past the time you have already put into reselling so far, so it is a big plus, you have a lot of time now to do your new procedure on reselling. Another plus, more family time? Or golf time? Truly enjoyed the Video!!! ♥️♥️❤️🔥❤️🔥
How exciting! I love having everything at home. It’s convenient& it’s freeee! lol you made it look really nice in your space! Very organized & clean! I need to go through my inventory and clean out old stuff. You inspire me always!
Thank you Jessy. It's still a work in progress but I'm getting there.
i agree i would never do a storage unit i need it all right here at home bcuz i ebay all different hours day/night and im cheap i would never pay $200-$400 a month for storage no way
You and your wife are both very smart 😊
Thank you but she definitely is the wiser one 😁
We moved out of a small storage unit and I put it all in my garage. Another option might be to rent a storage cube that they will drop off in your driveway. (?) Do you have room on your property for a shed like Commonwealth Picker? Also- unless I find new/like new shoes, I stopped picking them up. There is an over-abundance of shoe resellers on ebay and Posh making it hard to sell any used. Most people are looking for new shoes anyway, in my opinion.
Unfortunately we don't have the room for a shed. That would be my first choice. I did check on Pods when we moved a few years back. They are expensive.
U sir are not even close to being an idiot . You have taught me a ton! People tend to only revaluate a situation when need arises which is totally normally we all do it that way. Good luck with your changes I am sure you will continue to be successful.
Thanks so much!
@@flippymcflipperson I'm binge-watching flippers now because I'm thinking about reopening my eBay after the first of the year.
I’m fortunate that I live in the country and have enough land that I built a 12’ x 16’ 2 story shed myself for less then $3000 about 5 years ago. I ran electric and installed shelving making it great for inventory. I will not pay to store my eBay inventory. FYI I work full time for the Post Office and eBay is my part time retirement plan. That’s how I solved my storage problem. I know everyone may not have the some options but it’s a solution for some.
That sounds like an amazing set up. I'm jealous!
I try to be picky but I get nervous I won’t find enough to sell. If I don’t have enough to sell I won’t be able to survive. Your idea makes way more sense, thanks Evan!
I have the same fears but I'm gonna try and get over it. We will see how it goes😬
Great content, thank you for your honesty. I am “fine tuning” my business as well, it’s hard to pass things up you used to purchase but as you say and know, the margins speak for themselves!
Do you think an update video would be a good idea?
@@flippymcflipperson Yes I do, I am sure you have made tweaks to your new system and it would continue to show your progress and to encourage those of us that are on a smaller scale that it can still be done, just more efficiently. As my mom tells me “work smarter, not harder”, so I have been slowly weeding out my “impulse” buys that cause me to think if it will sell quickly or what the margin is and go from there.
I would change out the pink tapered bins for clothes and switch to boxes with straight sides. There is alot wasted space between the bins that could be used for inventory. I would also make use of the space above the racks with more shelving. Good job on the purge! 👍
Great tips! Thank you
You are not crazy at all! Slimmer down and being more "surgical" about sourcing can actually increase margins and decrease inventory headaches!
I love that term "surgical". Perfect!
@flippymcflipperson You are already breaking your new rules in your first video though! Lol
@@Silverhawk25 I have no discipline!🤣
I was looking through my inventory recently and found that most of the stuff that hangs around taking up space for years is items I received in bulk deals, like nicknacks I threw in at the end to sweeten the pot for me. While those haven't sold, I made my profits long ago with the big flip items I really wanted in the lots. Getting rid of those stale items for any kind of money is ideal, but I've also been quicker to hit the "donate" button. Sometimes the space and peace of mind is worth more than a $2 sale. Love the video. Keep em coming
Absolutely, I can't count how many golf bags I've bought just for a few clubs but ended up listing the junk ones just because I had them. Of course, they sit forever.
Same thing, I'm not organized at all, I ran out of space long time ago and I'm not paying for storage units, I kind of did the same things, besides being more picky with items I changed my niche a little, I stared to learning about linen, jewelry, cards, books, and other small items, and I'm doing pretty good with profit margin but I still have a mess in my house and I can barely walk 😅
I feel like all resellers love a mess to a certain extent. Junk = money😂
Yeah Flippy! I'm in a very similar situation right now. From 1200-1400 listings, down to 530. I've reclaimed much of my garage space. Also getting much pickier about sellthrough rate. Discounting, dumping bad buys. It feels great to be free of it.
It's a huge weight off of my shoulders for sure. Glad to hear you feel the same way. Thanks for watching!
Get a 2nd shed and have patreons pay for it. You know, like Commonwealth Picker. It’s simple and genius at the same time. Actually, get a 3rd shed and then you can have one shed for picking and the other shed for packing/flipping……Double genius!!!!!!
I wish I had room for like 5 sheds!😂 Sadly we have a very tiny yard and I don't even have room for one.
wishing for your success!! great job on saving $280 a month
Thanks so much!!
Smart selling sounds good to me. Downsizing is the way to go.
Fingers crossed!😁
$280 is a big chunk of change out of your profits every month. You did well getting rid of it young man. 🎅
Thank you!
Thanks for sharing this Evan, sounds like a great move! I have a similar setup, items have to go fast! Chris
The faster the better!
It’s good to purge inventory every once in a while. I recently went from around 600 down to 375 items and my sales haven’t really changed much because of it. It was just dead inventory like you said. And that $280 a month which about $3000 in profit this coming year.
It's definitely gonna add up for sure!
The polo was indeed cool
Man, I literally did this about 2 weeks ago myself. I switched over to pretty much electronics and kitchen appliances because I can usually pick them up for cheap off Facebook marketplace and flip them for around 4-6x profit on eBay and a lot quicker than the junk I had been accumulating since I started doing eBay last June. I went from almost 1000 items down to barely 400. And it feels like a big weight off my shoulders. I just gotta stay disciplined on the hunt for inventory.
It definitely is a weight off, but I'm more impressed that you can actually buy stuff off of FB marketplace. I've been ghosted more times than a cemetery!
Good advice. A lot of flippers promote a "list it and forget it" mode of business. which can work to some extent. They don't see the "cost" involved in storing items, organizing items and having an unattractive stale inventory. Especially, as a beginner I am finding value in paying attention to my listings and figuring out how to adjust descriptions, photos etc. to get sells.
And tweaking those listings works too. Hopefully with a smaller inventory it will be easier to do that and keep up with it. Thanks for watching!
I have been contemplating the very same thing. We sell a lot of clothes but I have gotten much pickier about the clothes that I am buying. It really has to be high end stuff or I just walk a way. I've got about 1,400 items in my eBay store and I am hoping after the holidays to get rid of a lot of stuff that ain't selling. I'm hoping to get down to around 600 quality listings. You have inspired me to do this......... DONE!!!! LOL
Awesome!!!! Keep us updated and good luck!
I think it was a smart move. I am doing the same myself. I can make around $700 a week with 300 items. I am focusing on higher priced items with a better return. Once a year I take my stale inventory to a flea market and liquidate it. I work on it very part time... Great video!!!
Flea market sounds like a great idea. I wish I would have thought of that!
I know of at least two resellers who when they have inventory that isn't worth much or hasn't sold, they will have a yard sale and sell each piece for $1. It's better than nothing and gives them money to go back up and pick up more and better inventory. I did that once down in FL with a bunch of clothes. I walked away with $70+.
Not a bad idea at all. I might do that next time I purge. Thanks!
Great video! So smart to cut back! The market has changed. So we need to change!, 😊
Yes! Thank you!
Honestly, I've never understood paying for a storage unit. The main reason of course being cost, but the second reason is because a storage unit allows you to just keep filling it and filling it to the point you've no idea what's even in it anymore, so basically youre payimg to store stuff youll never get around to selling. I think it was a smart move.
Exactly, I wouldn't mind paying for one of it was full of really good buys, but then again if they were really good buys they would last long🤣
I had the same dilemma about 8 months ago. My 10x30 storage unit went from under $200 to almost $500 in 3 years and I gave them the peace sign and have plenty of room in my garage and an extra bedroom
I am trying to buy out a guy’s sports cards from his storage unit, but he would rather just keep paying those fees than sell me the cards he stores. What is wrong with people?????
$500!!!! That's nuts! Sounds like that was a pretty easy decision
@@flippymcflipperson it was an easy decision. Every 6 months it was going up $80. The last notice I got was $480 so I dipped.
I actually bought the same shirt from that boutique in Columbia but mine was an XL. I wonder if they have more and only putting it out one at a time. I ended up selling mine within a week as well for $165 plus shipping
Haha, I knew I should have listed it higher. I started to list it for $150 but listed for $95 and took an offer. When I bought mine the lady did say, "We must have multiples of those, I sold one earlier."
@@flippymcflipperson man I didn’t even see the other one. Yeah when I checked comps I don’t know if any of the polos sold but knew I would probably s high because of the collaboration.
Love you Brother!
Back at ya!
I think it was the right move. Part of the reason I don’t want to do the storage unit deal because they are notorious for the nice appealing rate to just Jack it up on you. It is a fun little experiment playing the weight of those 3 rules and you’ll often be on the fence with a purchase. When I am on the fence I just lean no, there are other things out there.
Yeah, I've got to learn to say "no" more. It's harder on those days when you aren't finding much though😬
@@flippymcflipperson yeah I would also say there is a #4 for me, so I like the item and want to sell it, otherwise it sits and can’t do that with limited space!
It's great to only get better items, however if saving $280 a month is costing you more than that by limiting your items, I would have kept the storage unit.
That remains to be seen. Hopefully I can find good enough items to make up for the lost inventory. Worse case scenario, I can always go back to a storage unit.
I just wanted to tell you that you convinced me to resell and I always look forward to your videos. If it came down to it. Could you get a smaller unit that adds up to your room in your house from your old unit? Just put all the big items in the smaller unit
Yep, I can always go back to a unit if I need to or even get a smaller one. Hope your reselling is going good for you!
@flippymcflipperson I have a question. Brands like new era and Nike. Is it safe to resell?Because I saw it was on the Vero list.
We are blessed! Let me know about the things you leave behind!
Will do!
I see an awful lot of useful space for storage in your office.
There's definitely some room left, I just don't want it to be too much so it feels claustrophobic.
I think you made a wise decision. Paying storage unit fees that high really cuts into profits. Whereas you have great Thrift Stores and Goodwills and I don't. I have a double attached garage, 3 small out buildings and an unattached 3 stall garage with full loft. So you have the merchandise and no space and I've got all this space and no merchandise. Lol. Oh yeah we've got all this on 3 acres. Great video and you certainly aren't an idiot.
Sounds like you have my dream setup! What part of the country are you in?
I'm in Iowa.
Great video
Thanks!
I am only a part time reseller but even if I was full time I think I would have a hard time paying monthly for a storage unit. I am blessed to be in the country and have a shed, storage building, and soon a large building that will hopefully become my office. I think you made the right decision. You now have more time to source, AND that extra $280 a month. Nice job.
Maybe I can just pay you to store my stuff in all your space🤔
@@flippymcflipperson sure thing!!!! Then I can build more!!!! Lol
Did you donate that K-mart Tape. If not. I found same at goodwill!!
I think there were a few rolls in a box I donated 🤣
You could buy or rent a shipping trailer for less and have way more room.
Unfortunately we don't have the room for one😕
@@flippymcflipperson ah, pesky teenie acreage problem. We have the same issue lol. Looking to buy some land soon, this little quarter acre just isn't enough.
I think it's brilliant!!!!🎉💯🎯✅️👏
Thank you
Could got to Lowes or Home Depot and get a shed. If you have room in your yard
I wish I did. Our yard is the size of a postage stamp.🤣
@@flippymcflipperson 🤣🤣
Also buy a Yaris. Most trips you don't need to buy gas for a van.
I gotta have room for all the golf clubs 😂
Buy a hatchback and lay the back seats down.
Seriously, you'll cope once you start saving serious gas $$$.
Hey Oh!!!
Oh Hey!!!
Why not buy separately a missing clubs and sell as a set?
Sometimes it's not worth it. Especially if the set is missing 3-4 clubs.
Sad to see your sales slow down
Hopefully not too bad
I bet you will end up with a better net revenue next year and less work.
That's the hope. Fingers crossed 🤣
@@flippymcflipperson Evan, I have my fingers crossed for you as well!!!!! 👍
😎🙏
4:15 More discipline?! Aaargh!!😫
Gotta do it🤣
One of the requirements of a successful business is having the ability to grow. If $50 is hurting your bottom line then you're possibly buying the wrong items. Now you're forced to a smaller space and required to make decisions on what to and what not to buy when that decision could of been made while you had the storage locker to make sure any future price increases (shipping, rent, utilities etc..) are covered. To put it simply, if the inventory you had stored in your storage locker didn't make you $280 a month then you're wasting money. Having to get rid of that storage locker and filter better on what you buy because of limited space doesn't guarantee you'll make more money than had you just kept the Locker and stuck to the same type of filters moving forward.
This isn't at all a bad decision though. I went from selling everything under the sun that made money to a single category.. I continue to sell out of a 77 sq ft room out of my house and have made 5x the sales switching to a single category that I better optimized the very limited space I work in. It may be time to consider selling in 1-2 specific categories to better optimize your sourcing, which should lead to higher amounts of inventory giving you more time to list than sourcing multiple categories.
I agree with you for the most part. However having a smaller space does effect my buying decisions but hopefully in a good way. Hopefully, I won't be as lazy and will spend more time and make smarter buys. I'm kind of treating this like a reset. I do hope to grow but in a smarter way. I can always rent another unit if I need it. Thank you for watching.